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Pacific Rubiales complains about the ANLA

RCN Radio reports that according to Pacific Rubiales’ vice president Federico Restrepo, the company has increased its oil reserves thanks to projects like the La Creciente gas field (Sucre) and others developed in Peru. Pacific also increased its reserves to 517M proved barrels with other findings which will allow oil supplies until 2027.

Thursday, March 21st, 2013
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Oil and gas are different worlds in Colombia

Oil and gas are different worlds in Colombia

ProductionMinMinas recently published final oil and final gas production numbers by month for the period January to December 2012. The graph shows the distribution of production by department.

Wednesday, March 20th, 2013
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Colombian government to use drones to improve pipeline security

Caracol Radio reported that the government will use drones to monitor and protect the Cano Limon Coveñas and TranAandino pipelines. Additionally, the government will increase the rewards to prevent attacks on pipelines and also will use twenty helicopters recently purchased for the same purpose.

Wednesday, March 20th, 2013
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Retired Army General has upbeat message on security

Retired Army General has upbeat message on security

Mayor General (R) Jorge Rodríguez Clavijo addressed the Colombo-Canadian Chamber of Commerce this morning, and while he was realistic about the challenges, he was upbeat about the changes in the past 10 years and about the Santos government’s efforts in the field. He stayed away from political issues like the peace talks or the impact of Venezuela and kept to the facts.

Wednesday, March 20th, 2013
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The government and citizens reach an agreement in Yopal

As reported by RCN Radio, road blocks were lifted around Yopal, capital of the Casanare department (which produces 18% of the country’s oil and 70% of its gas) after citizens barriaded them to protest the lack of water. According to Ivan Mustafa, Deputy Minister of Water, an agreement between the government and the people of Yopal was reached. Meanwhile, people will continue to receive water in tanker trucks.

Wednesday, March 20th, 2013
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Debt is the new ‘black’

With investors walking away from Colombian oil and gas stocks but interest rates low and companies still upbeat about their prospects, there have been a number of announcements about new debt issues and debt intentions. Other less conventional uses of cash like share buybacks have also become more prevalent.

Wednesday, March 20th, 2013
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Ecopetrol still has the largest stock-market capitalization in BVC

As reported by Dinero, by February this year the stock-market capitalization of the companies listed on the Colombia Stock Exchange (BVC) increased by 6% compared to February of 2012, going from US$248B to US$263B. This even though capitalization declined compared to January this year, when it was US$273B.

Wednesday, March 20th, 2013
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Pacific Rubiales puts ethical controls on contractors and providers

It came as a tweet inviting contractors and providers to review the company’s Corporate Code on Conduct and Ethics. But Pacific makes it clear as early as page 7 that “the principles listed in this Code form part of your contractual agreement with Pacific Rubiales Energy and its subsidiaries”. Having been burned at least once by ethical lapses on the part of its contractors, the company does not want it to happen again.

Wednesday, March 20th, 2013
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Endesa will sell gas in Colombia

Endesa will sell gas in Colombia

As reported by Portafolio, Fulvio Conti, president of power company Enel, announced that the company will enter “the gas-selling business, gradually, focusing on end customers, especially in Colombia and Chile.” Conti said that entering this business would be handled by Endesa and will be conducted over the next five years. Thus, Enel would replicate the business model that has in Europe, where subsidiary Endesa Gas is the second largest gas marketer in Spain.

Monday, March 18th, 2013
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Ecopetrol displays environmental credentials

Ecopetrol is sending out a number of press releases designed to bolster its corporate social responsibility credentials. This week, environmental issues have the focus especially the company’s considerable investment as part of its long-term strategy to produce “clean barrels”. From an Ecopetrol press release, translated and with commentary by Hydrocarbons Colombia.

Monday, March 18th, 2013
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